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Severance Agreement

Free severance agreement template for an employee departure, including severance pay and release of claims.

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This free severance agreement covers 1. Separation, 2. Severance Pay, 3. Benefits, 4. Release of Claims, 5. Confidentiality and Non-Disparagement with 5 clearly marked [placeholder] fields to fill in — built for small business owners and first-time managers handling an HR moment professionally without a dedicated HR department to lean on. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.

Template — click to edit

Severance Agreement and Release

Employer: [Company Name] Employee: [Employee Name] Date: [Date]

1. Separation

Employee's employment with the Company ends on [Date] (the "Separation Date").

2. Severance Pay

In exchange for the release below, the Company will pay Employee [Amount/Formula], less applicable withholdings, paid [Lump sum / over X pay periods].

3. Benefits

[Describe continuation of health insurance (e.g. COBRA), if applicable, and its duration.]

4. Release of Claims

In exchange for the severance pay above, Employee releases the Company from any claims related to their employment or its termination, to the fullest extent permitted by law.

5. Confidentiality and Non-Disparagement

[Optional: both parties agree not to disparage each other, and to keep the terms of this Agreement confidential.]

6. Return of Property

Employee will return all Company property (equipment, keys, access badges, confidential materials) by the Separation Date.

7. Revocation Period

[If required in your jurisdiction, e.g. under the US Older Workers Benefit Protection Act: "Employee has 21 days to consider this Agreement and 7 days after signing to revoke it."]

Employer: ______________________ Date: ____________ Employee: ______________________ Date: ____________

*This document is provided for informational and educational purposes only and does not constitute legal advice. Severance/release agreements have specific legal requirements (especially for age-protected employees) — have a licensed employment attorney review before offering or signing one.*

Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.

What's included

Edit online — click the document, fill in placeholders, download a PDF
7 standard sections: 1. Separation, 2. Severance Pay, 3. Benefits, 4. Release of Claims, 5. Confidentiality and Non-Disparagement, 6. Return of Property, …
5 clearly marked [placeholder] fields for quick personalizing
Free to use — no account or signup required
Fully editable — adjust any clause to match your actual situation
Includes a signature block, ready to print or sign digitally
Fixed docstoc.io footer on every PDF (not removable)

Who this template is for

Freelancers & solo founders

Handling routine business paperwork without commissioning custom legal drafting for every document.

Small businesses

Standardizing recurring documents — leases, agreements, notices — across a growing operation.

Anyone reviewing before signing

Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.

Growing teams

Formalizing hiring and performance processes as a company adds its first employees.

FAQ

Is this severance agreement template really free?

Yes. Like every template in docstoc's library, this severance agreement is free to use, with no account or signup needed to view, edit, or download it.

What does this severance agreement cover?

This hr template includes 1. Separation, 2. Severance Pay, 3. Benefits, 4. Release of Claims. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.

Is this legal advice?

No. Employment documents sit on top of a mix of federal, state, and sometimes city labor law — at-will employment rules, required notices, and what you can and can't put in writing all vary. Have an employment attorney or HR professional confirm this fits your jurisdiction before you use it.

Can I edit the wording?

Yes — edit directly on the page, adjust any section or clause, and re-fill the 5 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.

Where can I find more free templates like this?

Browse more free hr and related document templates in the docstoc library at /document-templates/.

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